Pakistan’s garment industry hopes for early free trade with the EU
In order to restore the economy that was hit by the flood disaster in 2010, the Pakistani government had earlier proposed a free trade preferential proposal to the European Union. The Pakistan Readymade Garment Manufacturers and Exporters Association (PRGMEA) recently expressed its appreciation for the efforts made by the country’s government in proposing free trade preferences (ATP) to the European Union, and hopes that the relevant agreements on free trade preferences can be implemented at an early date.
Atiq, president of the Pakistan Garment Manufacturers and Exporters Association branch, said that promoting free trade with the EU has given the ailing textile industry a glimmer of hope because it will transform into a business opportunity for the textile industry. Bringing employment to many people. Atiq said: “We very much hope that the European Commission will pave the way for a free trade agreement between Pakistan and the EU, which will bring more vitality to Pakistan’s textile and garment industry, provide employment for the country and bring a certain amount of foreign exchange earnings.” Tik said that by seeking free trade instead of asking for aid, the Pakistani government has taken steps in the right direction, and with the efforts of relevant departments, it will soon inject a positive impetus into the country’s economy. Atik emphasized the need to form a working group to track and monitor this issue to ensure final implementation.
It is understood that in the first 10 months of this fiscal year (July 1, 2011 to June 31, 2012), Pakistan’s textile exports showed a downward trend, with woven fabrics exports falling by 15% and knitwear exports falling by 26%. , bedding dropped by 20%. At the same time, Pakistan’s textile exports in the first 10 months of this fiscal year also fell by 10% compared with the same period of the previous fiscal year, and the decline has exceeded US$1.1 billion. In order to alleviate this situation, the Pakistan Textile Exporters Association has asked the government to pay attention to the difficulties faced by exporters and the decline in textile exports, and take immediate measures to allocate 30 billion rupees. Separately, the association also proposed that protective duties on imported inputs such as sodium hydroxide, filament yarn, dyes and chemicals used in manufacturing export goods should be removed. This can reduce production costs for exporters and make exports more competitive in terms of price compared with regional competitors.
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